Sponsored By
de | cn | ru

Brokers News

Gain Capital reports 3-digit income rise for 2016, hints at further expansion

Gain Capital, owner of the forex retail brand Forex.com and the largest forex broker on the US market, reported a 243% rise of its net income for 2016, to $35.3 million. The operating profit of Gain Capital in 2016 also rose significantly – by 228% from 2015, to $57.7 million. 

 
According to the company data, the main driver of the profit was the broker's retail segment, with a profit amounting to $115.7 million and a net revenue of $336.3 million, while the institutional brand GTX had a profit of $5.4 million and net revenue of $30.2 million. The futures segment of Gain Capital had a more modest contribution to the overall performance with segment profit of $4.7 million, reflecting a margin of 10%. 
 
In its statement Gain Capital pointed out that the good full year performance was mostly driven by a strong last quarter. The data shows that in that period the retail segment generated net revenue of $97.5 million and segment profit of $40.8 million, reflecting a margin of 42%, while the institutional segment generated net revenue of $8.7 million and segment profit of $1.4 million, reflecting a margin of 16%. 
 
At the same time, however, the company report revealed that this February the performance was not so stellar neither in monthly, nor in annual terms. 
 
The monthly OTC trading volume stood at $170.2 billion, a decrease of 19.0% from January 2017 and 38.4% from February 2016. At the same time, the active OTC accounts were 4.6% more than in January to 133 027, but 7.4% less than last February. It is not clear whether the numbers reflect of the acquisition of over 47 000 client accounts from FXCM on February 24, following the dramatic exit from the US market of the latter.
 
The ECN volume of GTX in February also dropped both on monthly and annual base. It stood at  $221.6 billion – a decrease of 16.8% from January 2017 and an increase of 27.4% from February 2016. The Swap Dealer volume in February was $61.5 billion. It posted a decrease of 36.3% from January 2017 and 3.9% from February 2016.
 
“GAIN Capital closed out a milestone year with a strong fourth quarter performance, as increased trading volatility and continued progress scaling and diversifying our business helped drive record quarterly adjusted EBITDA,” commented Glenn Stevens, CEO of GAIN Capital. “We are pleased that we have completed a successful integration of the City Index business, exceeding our $45 million cost synergy targets, while optimizing the combined business to realize meaningful margin expansion. Looking forward, with our solid balance sheet, strong brands and global reach, we are well positioned to grow the business both organically and inorganically and further our long-term objective of growing market share leadership in our retail, institutional and futures businesses.” 
 
Gain Capital is one of the major retail forex and CFD brokers in the world. It is currently regulated in eight jurisdictions, with approximately 140,000 customers and over $1.5 billion in assets.  In addition to its US regulated retail forex business, Gain operates regulated retail trading operations under the brands Forex.com and City Index in the United Kingdom, Japan, Hong Kong, Australia, Singapore, Grand Cayman and Canada. Gain Capital also has a US-based retail futures business and the institutional trading platform GTX. 
 
 
TAGS: gain capital  forex.com  gtx  profit 

More news about Forex.com

Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$200 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

More Forex Brokers News

FXTM launches MT5 trading for Pro account holders

Apr 11 2018 10:02:35

  Global forex broker FXTM announced that trading on MetaTrader 5 (MT5) is now also available for Pro account holders. Previously, only its clients with regular ECN accounts had this opportunity. Read more

FBS's client base reaches 7 million

Apr 02 2018 12:51:01

  Leading Forex and CFD broker FBS reported that the total number of its clients reached 7 000 000 on 21st of March, 2018. The anniversary client, Mr. Abdelrashed Eldamerdash Hamed Elsayed from Egypt, got a special gift from the broker. Read more

FBS adds DAX30 to its CFD lineup

Apr 02 2018 12:23:24

  Forex and CFD broker FBS launched trading in one of the most important indices, the German DAX 30 last month. This is a blue chip stock market index, which represents Germany’s 30 largest and most liquid companies on the Frankfurt Exchange - BMW, Adidas, Siemens, etc. Read more

Forex

Dukascopy launches live trading on BTC/USD

Mar 26 2018 13:52:57

Dukascopy Bank, which also owns a brokerage of the same name, announced it is launching live trading on CFDs on the BTC/USD pair, with a leverage of up to 1:3.   The clients will be able to trade on both rising and falling markets – same as Forex trading and have hedging possibilities. Read more

Bittrex delists 82 altcoins from platform

Mar 21 2018 15:01:42

Bittrex, a major US-based crypto- and altcoin trading platform, announced it is delisting 82 altcoins from its platform by the end of March. Read more

Swissquote expands crypto portfolio with multi-crypto certificate on SIX Swiss Exchange

Mar 19 2018 14:48:16

Swissquote, the major Swiss financial online services provider and owner of the forex broker of the same name, announced it is launching the first multi-cryptocurrency certificate trade on the SIX Swiss Exchange. Read more

easyMarkets honored as “Best APAC Broker" at ADVFN awards

Mar 19 2018 13:47:39

  Global forex brokerage easyMarkets has once again been recognized by the financial services community. It won as the best broker for Asia-Pacific region at the fourth annual ADVFN International Financial Awards. Read more

CMC adds Bitcoin, Ether CFDs, spread betting to portfolio

Mar 16 2018 14:51:21

 CMC Markets, a major global forex and CFD broker, has finally joined the ranks of regulated forex brokers that offer CFDs on cryptocurrencies and will offer such products and spread betting on the two largest cryptocurrencies by market cap – Bitcoin and Ether. Read more

Coinbase gets e-money license from UK’s FCA

Mar 14 2018 14:52:48

 Coinbase, one of the largest and most popular cryptocurrency exchanges in the US and Europe, announced it has obtained an e-money license from UK’s financial markets and services regulator, the Financial Conduct Authority (FCA). Read more

ThinkMarkets to launch P2P trading blockchain platform, ICO – media

Mar 12 2018 14:34:36

The forex and CFD broker ThinkMarkets  announced it is planning to launch TradeConnect – a blockchain based multi asset trading network and a native token ThinkCoin (TCO), reports LeapRate. Read more

Forex
de | cn | ru